- Tesla enters the fast-growing compact SUV market with the launch of its Model Y in early 2020. Elon Musk expects the Model Y to eventually be its largest selling model, outselling the Model 3, Model X, and Model S combined.
Outperforming stocks for 2021
Tesla stock has been on a roll for the past 1-year and that momentum seems to remain in place for 2020 as the stock has already appreciated by 20% YTD 2021.
In this article, we identify 6 outperforming stocks that have appreciated MORE than Tesla and yet might still be better buys in 2021.
A blockbuster 2020 for Tesla
Tesla stock is not without its controversy, with the counter being a heavily shorted stock for years. The positive momentum started gaining traction swiftly in 2020 when the counter appreciated by close to 8X, with the counter starting the year at $90/share and ending at $700/share.
The bulls cite a number of reasons why Tesla stock has appreciated swiftly in 2020:
